Towards Women’s Financial Inclusion: A Gender Data Diagnostic of Nigeria

Topic: Women’s Financial Inclusion
Type: Report
Author: data Date: January 2022

This diagnostic highlights gaps and opportunities in sex-disaggregating financial data in Nigeria and tests the WFID Partnership’s theory of change. Demand-side data has played an important role in creating awareness about women’s financial inclusion in Nigeria and contributing to significant policy changes. However, the lack of corresponding supply-side data has limited market-driven approaches that will ultimately drive women’s financial inclusion. Better supply-side data and better use of demand- and supply-side data in tandem would help close large—and growing—gender gaps by revealing additional pathways for bank and regulator interventions.

The research uncovered important market findings. Nigeria’s gender gap in financial access grew from 10.2 percent to 12 percent between the years 2012 and 2020.2 Modeling conducted as part
of our research suggests that the gap will not drop below 10 percent until 2027. If interventions are not taken at the regulatory and industry levels, the gender gap in Nigeria’s financial access will persist—and possibly widen—in the future.

Read the full report.

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